CoinLedger CEO: Sharp Increase in U.S. Users Receiving Crypto Tax Letters May Signal Broader Enforcement Ahead

According to ChainCatcher, The Block reports that CoinLedger CEO David Kemmerer stated that in the past 60 days, the number of U.S. users on the crypto tax software platform CoinLedger who have received letters from the IRS has surged by 758%. Accounting firms such as Taxing Cryptocurrency have also confirmed this trend.

In an email, Kemmerer noted that although Trump has expressed a desire to eliminate cryptocurrency taxes within the United States, Congress has yet to introduce any related legislation. Meanwhile, many investors still mistakenly believe they do not need to report crypto assets when filing taxes. He added that this could be the beginning of a broader enforcement wave, especially as the new 1099-DA tax reporting regulations are set to take effect next year.